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Products
January 1, 2009
NEW HAVEN FINANCIAL PRODUCTS
New Haven Financial will cater our loan programs and get creative in any situation that dictates an exception to the programs available.
To add Examples:
LOW LTV’S
HIGH CREDIT SCORES
Loan submissions are evaluated and underwritten on a case by case basis. Exceptions are considered on a case by case basis and subject to investor approval.
Fast Funding!!!
A-D Paper, Refinance
Single Family Residence, Apartments
Commercial, Mixed Use, Land
Consolidation, Foreclosures, Tax Liens
Bankruptcy, Bail Outs, Judgments
Purchases, Construction/Development
Business Related, Investment
Swing Loans, Bridge Loans
1st, 2nd, 3rd, 4th...
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Products Available
New Haven Financial, Inc. offers a wide variety of loan products.
A listing of our current products and rates is displayed below.
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Category:
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Single Family Residence
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Loan:
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Owner Occupied 1 to 4 units Conforming:
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Details:
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AB 489 Compliant
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Rate:
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Variable monthly (POSTED)
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Term:
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20 years interest only
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Prepay Penalty:
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No Prepay if Section 32 compliant
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LTV:
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Up to 65%
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Loan Fee:
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5.5 points cap (AB489 compliant) with 2 to the referring broker; loan amounts under $100K 1.5 points to referring broker.
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Category:
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Single Family Residence
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Loan:
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Owner Occupied 1 to 4 units Jumbo:
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Details:
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Section 32 Compliant
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Rate:
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12-14%
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Term:
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61 months interest only
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Prepay Penalty:
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Section 32 compliant; NO PREPAY
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LTV:
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Up to 65%
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Loan Fee:
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no cap
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Category:
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Bridge and/or Swing Loans (Owner Occupied)
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Loan:
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Conforming and Jumbo SFR's
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Details:
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Listed Properties, In-Escrow, Pending Refinance
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Rate:
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12 to 14%
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Term:
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12 months
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Prepay Penalty:
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6 to 12 months then waived
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LTV:
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Up to 65%
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Loan Fee:
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Negotiable
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Category:
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Apartments
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Loan:
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Apartments
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Details:
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5 Units and above
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Rate:
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11-14%
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Term:
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1-5 years interest only
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Prepay Penalty:
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6 to 12 months then waived
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LTV:
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Up to 65%
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Loan Fee:
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Negotiable
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Category:
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Land
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Loan:
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Land
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Details:
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LAND DEVELOPMENT DEALS. (Fund controlled – see Construction)
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Rate:
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12 to 14%
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Term:
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1 to 5 years interest only
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Prepay Penalty:
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6 to 12 months then waived
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LTV:
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Up to 50% on refinance; 65% LTV on purchases with 35% cash down.
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Loan Fee:
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Negotiable
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Category:
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Commercial
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Loan:
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Commercial and/or Industrial
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Details:
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Possible Environmental Requirement
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Rate:
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12-14%
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Term:
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1 to 5 years interest only
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Prepay Penalty:
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6 to 12 months then waived
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LTV:
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Up to 65%
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Loan Fee:
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Negotiable
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Category:
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Construction
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Loan:
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Construction
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Details:
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Builders Control account required. (1% or 1 point fee on amount controlled)
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Rate:
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Interest Reserve: 6 months (negotiable)
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Term:
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12-24 months interest only
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Prepay Penalty:
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6 to 12 months then waived
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LTV:
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Up to 65% of future value-acquisition and construction; cash requirement of 10% down plus closing costs
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Loan Fee:
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Negotiable
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